While NVIDIA dominates the AI hardware market, Broadcom and Alphabet are positioning themselves as powerful alternatives with their own chip designs and integrated platforms.
• NVIDIA reports record revenue of $68.1 billion for the fourth quarter of 2026
• Broadcom increases AI revenue 106 percent to $8.4 billion in the first quarter of 2026
• Alphabet is investing heavily in its own TPU accelerators and reports cloud growth of 48 percent
NVIDIA: Undisputed leader with ambitious goals
NVIDIA shares remain the benchmark in the current market environment. For the fourth quarter of fiscal 2026, the company reported record revenue of $68.1 billion, up 73 percent year over year. Particularly noteworthy is the data center segment, which contributed the lion’s share of success at $62.3 billion. “The turning point for agentic AI has been reached,” stated Jensen Huang, founder and CEO of NVIDIA, at the presentation of the balance sheet. The company is optimistic about the future and forecasts revenue of approximately $78.0 billion for the first quarter of fiscal 2027.
Alphabet: Vertical integration as a competitive advantage
Alphabet is increasingly positioning itself as a vertically integrated AI company that offers not only software but also specialized hardware. With its in-house Tensor Processing Units (TPUs), the Google parent company offers a cost-effective alternative to NVIDIA’s graphics processors. These “Custom-Designed AI Accelerators” are specifically optimized for tasks in the areas of training and inference. In the fourth quarter of 2025, consolidated revenue increased 18 percent to $113.8 billion, with the cloud business increasing a significant 48 percent to $17.7 billion. According to Sundar Pichai, CEO of Alphabet and Google, the Gemini models now process over 10 billion tokens per minute, as he said when presenting the quarterly figures.
Broadcom: Specialist in tailor-made AI accelerators
Broadcom has also firmly established itself as a mainstay of the AI infrastructure. In the first quarter of fiscal 2026, which ended February 1, the company reported net sales of $19.311 billion, up 29 percent compared to the same period last year. The AI semiconductor solutions sector developed particularly dynamically, with sales increasing by 106 percent to $8.4 billion. CEO Hock Tan, emphasized in the official press release that the growth was driven by robust demand for custom AI accelerators and AI networking. Management expects sales of around $22.0 billion for the second quarter of 2026.
Barclays analysts confirm “Overweight” rating for AI trio
In its latest analyses, the British investment bank Barclays signals clear confidence in the continuation of the AI rally and rates all three heavyweights as “Overweight”. For NVIDIA, analyst Tom O’Malley confirmed a price target of $275 on March 18, 2026, pointing out that the increasing importance of AI data centers and computing efficiency remain key drivers. The bank is also optimistic about Alphabet: Ross Sandler raised the price target for the A share from $315 to $360 on February 5th because the “AI story is in full swing,” but at the same time warned of the associated cost increases. In the case of Broadcom, Barclays sees the price target at $500 based on the latest quarterly figures. According to a study from March 5, the group has already made the “first step” towards achieving the ambitious goal of $100 billion in sales with AI semiconductors in the 2027 financial year.
NVIDIA, Broadcom or Alphabet – which stock has the most potential?
The current market sentiment for the three tech giants remains predominantly positive – despite geopolitical uncertainties – which is reflected in the “Strong Buy” ratings on TipRanks. The NVIDIA share was last listed on the NASDAQ at $178.68 (closing price on March 25), which results in a theoretical potential of around 53 percent with an average price target of $273.34. At Alphabet (closing price on March 25: $289.59), the price potential up to the target value of $385.90 is around 33 percent. Broadcom shares, which last closed at $318.81, have about 48 percent upside potential with a target of $471.74.
Despite short-term fluctuations, the massive share buyback programs – NVIDIA with $58.5 billion remaining and Broadcom with a new $10 billion program – underscore management’s confidence in long-term performance.
Alexandra Hesse, editorial team at finanzen.net
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